Mexican Fintech EFEX Raises $8M for AI Treasury
Mexican fintech EFEX has raised an $8M seed round to expand its AI-powered treasury and cross-border payments platform. The company, which processed $1 billion in volume in 2025, targets mid-market clients with real-time, multi-currency transfers.
The funding round was co-led by PayPal Ventures and Floodgate, with participation from Contour Venture Partners and Nido Ventures. This investment from a major industry player like PayPal signals strong confidence in EFEX's approach to a market segment where efficiency and user experience have been persistent friction points. The capital is aimed at accelerating the integration of AI into its infrastructure and simplifying treasury workflows for companies operating in the U.S.-Mexico trade corridor. EFEX's platform is designed to replace fragmented banking relationships and opaque FX pricing with a unified system for managing multi-currency accounts, foreign exchange, and treasury tools. The company, founded in 2022 by Dimitri Zaninovich and Santiago Bustamante, provides same-day U.S.–Mexico settlement and global payouts to over 140 countries. CEO Dimitri Zaninovich has stated the goal is to replace legacy systems with more efficient, automated treasury operations. The platform targets the U.S.–Mexico trade corridor, a market representing approximately $1 trillion in annual SMB trade and growing over 15% per year with around 137,000 active businesses. Many companies in emerging markets still face significant delays and high costs with traditional cross-border payment rails. EFEX aims to address this by providing infrastructure for local collections and multi-currency payment flows. The broader Mexican fintech market is experiencing significant growth, with projections showing a compound annual growth rate of nearly 13% between 2026 and 2034. This boom is supported by a 2018 Fintech Law that created a clear regulatory framework, attracting substantial venture capital investment into the sector. In 2025 alone, fintech companies in Mexico raised $409 million in equity funding across 16 rounds. AI-powered treasury platforms are a growing trend, moving beyond simple record-keeping to become decision-making partners. These systems automate manual tasks like reconciliation, use machine learning to improve cash flow forecasting, and run complex scenario simulations in seconds. By integrating with ERPs and banking systems, they provide real-time cash data and predictive insights to help CFOs manage liquidity proactively.
